SYNNEX Given Consensus Rating of “Buy” by Brokerages (NYSE:SNX)
Shares of SYNNEX (NYSE:SNX) have received an average recommendation of “Buy” from the ten analysts that are presently covering the company, Stock Ratings Network.com reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $79.84.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of SYNNEX from an “outperform” rating to a “neutral” rating in a research note on Tuesday. They now have a $77.90 price target on the stock. Separately, analysts at Needham & Company LLC raised their price target on shares of SYNNEX from $74.00 to $78.00 in a research note on Thursday, July 3rd. They now have a “buy” rating on the stock. Finally, analysts at Bank of America reiterated a “buy” rating on shares of SYNNEX in a research note on Thursday, July 3rd. They now have a $85.00 price target on the stock, up previously from $80.00.
Shares of SYNNEX (NYSE:SNX) traded down 1.11% during mid-day trading on Wednesday, hitting $70.46. 41,308 shares of the company’s stock traded hands. SYNNEX has a 52 week low of $46.87 and a 52 week high of $79.44. The stock’s 50-day moving average is $66.36 and its 200-day moving average is $65.50. The company has a market cap of $2.727 billion and a price-to-earnings ratio of 21.01.
SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Wednesday, July 2nd. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.16. The company had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.17 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. The company’s revenue for the quarter was up 33.3% on a year-over-year basis. Analysts expect that SYNNEX will post $5.95 EPS for the current fiscal year.
Synnex Corporation is a business process services company. The Company provides services to resellers, retailers and original equipment manufacturers (NYSE:SNX), in multiple regions around the world.
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